2000 (9) TMI 58

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....nces have been made under section 27(1) of the Wealth-tax Act, 1957 (in short "the Act"), at the instance of the Revenue by the Income-tax Appellate Tribunal, Delhi Bench "D" (for short "the Tribunal"), and the following questions have been referred for the opinion of this court: "1. Whether, on the facts and in the circumstances of the case, the Tribunal was justified in holding that the asses....

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....nd acceptance by the Wealth-tax Officer who imposed penalties for all the four years. The assessee preferred appeals before the first appellate authority, i.e., the Appellate Assistant Commissioner (in short "the AAC"), who deleted the penalties. The order of the Appellate Assistant Commissioner was assailed before the Tribunal by the Revenue. By order dated June 17, 1982, the Tribunal accepted th....

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....ppeal. Yet, that apart, the assessee has applied for extension of time up to 30th of September of each year. The assessee could apply for extension of time even belatedly, i.e., after the expiry of the last dates for filing of the returns and it is for the Revenue to have discussed the extension application and if thought fit and warranted by facts to have rejected these applications. But since....